$1,731 in today’s USD is $37,392. That new car would be $18k, rent was just over $500. There’s places in the US where average rent is close to that, and I bet if we removed NYC and the Bay area the national average wouldn’t be super far off.
Education and staples are where you’re getting drilled on a daily basis. Harvard costs many times the average national income rather than being a fraction of it.
Someone’s overlooking the low low cost of buying a house back then. Essentially 2 years of salary. Housing where I live is now 20 years of median salary and about 19 years of average salary, and far more once you consider a loan.
Didn’t overlook it, I simply didn’t comment on it. You also have to be careful about comparing where you personally live and the national average. Because the national average includes a lot of places that are shockingly poor.
House sizes have also ballooned. The average home size in 1949 was ~900 sq ft, whereas a new home now is ~2500 sq ft. It was still cheaper, but those homes prices are for a lot less house than people are imagining.
My relatively small house (~1200 sq ft) was built in 1950 and is currently appraised at $550k, so it’s not just house size. Granted, I live in a highly-desirable west coast city and the lot is worth more than the house itself, but the point remains.
I agree, it’s definitely not just house size. But still, I’m not sure that your one data point anecdote is very meaningful. Desirable areas were more expensive in the 1950s too.
There’s places in the US where average rent is close to that, and I bet if we removed NYC and the Bay area the national average wouldn’t be super far off.
Sorry but I think you’re mistaken or several years out of date. I live in a midwestern city that overall has pretty reasonable cost of living. I also used to be a Property Manager for one of the bigger national companies. Our class B properties here were ~$800 for a 1 bedroom up until Covid, $1050 for a 2 bedroom. Now they’re 1300 for a 1 bedroom and 1600 for a 2 bedroom. House prices around here have done the same thing. I think it’s 800+ to be in a trailer park.
$1,731 in today’s USD is $37,392. That new car would be $18k, rent was just over $500. There’s places in the US where average rent is close to that, and I bet if we removed NYC and the Bay area the national average wouldn’t be super far off.
Education and staples are where you’re getting drilled on a daily basis. Harvard costs many times the average national income rather than being a fraction of it.
Someone’s overlooking the low low cost of buying a house back then. Essentially 2 years of salary. Housing where I live is now 20 years of median salary and about 19 years of average salary, and far more once you consider a loan.
Didn’t overlook it, I simply didn’t comment on it. You also have to be careful about comparing where you personally live and the national average. Because the national average includes a lot of places that are shockingly poor.
House sizes have also ballooned. The average home size in 1949 was ~900 sq ft, whereas a new home now is ~2500 sq ft. It was still cheaper, but those homes prices are for a lot less house than people are imagining.
My relatively small house (~1200 sq ft) was built in 1950 and is currently appraised at $550k, so it’s not just house size. Granted, I live in a highly-desirable west coast city and the lot is worth more than the house itself, but the point remains.
I agree, it’s definitely not just house size. But still, I’m not sure that your one data point anecdote is very meaningful. Desirable areas were more expensive in the 1950s too.
Sorry but I think you’re mistaken or several years out of date. I live in a midwestern city that overall has pretty reasonable cost of living. I also used to be a Property Manager for one of the bigger national companies. Our class B properties here were ~$800 for a 1 bedroom up until Covid, $1050 for a 2 bedroom. Now they’re 1300 for a 1 bedroom and 1600 for a 2 bedroom. House prices around here have done the same thing. I think it’s 800+ to be in a trailer park.